I expect the NFL will reduce his suspension to 2-3 games (which I believe was their plan all along) in an effort to look like they took a tough stance, but had to cooperate due to lack of evidence. However, I don't see Elliott's team being satisfied with any length of suspension unless there is evidence that has not been released yet (which is still possible). If Elliott accepts a reduced suspension, that will most likely mean there was evidence of some kind against him, and he and his legal team know this.
As I said earlier though, this is not just about missing a few games. His brand is tainted right now if not destroyed, so he has a lot more to lose than a few game checks and pro-rated signing bonus that I doubt the Cowboys will even make him pay back.